Renault edge pasts estimates in third-quarter

Renault edge pasts estimates in third-quarter

Pushed by the sales of its electric cars, Renault SA witnessed a surge in its third-quarter earnings, edging past the estimation drawn by automobile experts. The car manufacturer believes that it would help in beating the emission problem by meeting the European standards. 

 

However, the overall revenue of the company plunged to $12.2 billion, making a loss of eight per cent in the duration of the ongoing COVID-19 pandemic. Notably, it surpassed the estimates of 9.96 billion-euro on an average predicted by experts. It managed to garner 10.37 billion euros. 

 

During the period, the French automobile maker witnessed six per cent less sell in trucks and passenger cars segment. Interestingly, there was a 150 per cent rise in its Zoe battery-powered model cars. 

 

Luca de Meo, the new CEO of Renault, has promised to unmask a plan in January to counter the problem caused by pandemic to the company. 

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